Cambria Investment Management L.P. Decreases Stock Holdings in Travel + Leisure Co. $TNL

Cambria Investment Management L.P. lowered its stake in Travel + Leisure Co. (NYSE:TNL) by 5.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 205,012 shares of the company’s stock after selling 11,111 shares during the quarter. Travel + Leisure accounts for about 0.7% of Cambria Investment Management L.P.’s portfolio, making the stock its 18th biggest holding. Cambria Investment Management L.P. owned 0.32% of Travel + Leisure worth $12,196,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TNL. Invesco Ltd. lifted its holdings in Travel + Leisure by 8.4% during the third quarter. Invesco Ltd. now owns 3,486,173 shares of the company’s stock valued at $207,392,000 after purchasing an additional 270,474 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after purchasing an additional 855,151 shares during the period. Norges Bank purchased a new stake in shares of Travel + Leisure during the second quarter worth about $50,934,000. Arrowstreet Capital Limited Partnership raised its position in shares of Travel + Leisure by 3.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 713,266 shares of the company’s stock worth $42,432,000 after purchasing an additional 25,306 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Travel + Leisure by 231.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company’s stock worth $41,143,000 after purchasing an additional 482,731 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $70.13 on Thursday. The company has a market capitalization of $4.38 billion, a P/E ratio of 20.57, a P/E/G ratio of 0.53 and a beta of 1.32. The company has a 50 day simple moving average of $72.45 and a 200-day simple moving average of $67.66. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $81.00.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, February 18th. The company reported $1.83 EPS for the quarter, meeting analysts’ consensus estimates of $1.83. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. Travel + Leisure had a negative return on equity of 47.77% and a net margin of 5.74%.The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 earnings per share. As a group, research analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th will be paid a $0.60 dividend. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, March 20th. This represents a $2.40 annualized dividend and a dividend yield of 3.4%. Travel + Leisure’s dividend payout ratio is currently 65.69%.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, insider Michael Dean Brown sold 66,860 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $74.03, for a total value of $4,949,645.80. Following the transaction, the insider owned 427,821 shares of the company’s stock, valued at $31,671,588.63. This represents a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Amandine Robin-Caplan sold 3,904 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $74.61, for a total transaction of $291,277.44. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 99,664 shares of company stock worth $7,390,847. 3.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on TNL. Wall Street Zen cut Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Stifel Nicolaus set a $89.00 target price on Travel + Leisure in a report on Wednesday, February 18th. Barclays set a $78.00 target price on Travel + Leisure in a research report on Thursday, February 19th. Wells Fargo & Company lifted their price target on Travel + Leisure from $81.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings cut Travel + Leisure from a “buy (b)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.90.

About Travel + Leisure

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.